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Will I recognize a gain or loss when I sell my virtual currency for real.
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Crypto Taxes 2019 with Node40 + GREAT Crypto Tax Software ??One simple premise applies: All income is taxable, including income from cryptocurrency transactions. The U.S. Treasury Department and the IRS. Confused about crypto taxation? Our guide simplifies IRS rules on Bitcoin and other cryptocurrencies, covering tax rates, capital gains, and income tax. The entire $7, is taxed at the 15% long-term capital gains tax rate. The entire $7, is taxed at the 5% state tax bracket. $7, x 15% = $1, federal.
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